Pure Nickel Announces Shares for Debt Settlement
TORONTO: July 4, 2019. Pure Nickel Inc. (TSXV: NIC) (the “Company” or “Pure Nickel”) announces it has agreed to settle an aggregate amount of $74,670 for services and expenses rendered to the Company (the “Debt Settlement”) to be settled by the issuance of 1,493,400 common shares at a deemed issue price of $0.05 per share. The transaction is being undertaken by the Company in order to conserve working capital.
The securities issued pursuant to the Debt Settlement will be subject to a four-month hold period commencing on the date of issuance. Completion of the Debt Settlement is subject to acceptance by the TSX Venture Exchange.
About Pure Nickel
Pure Nickel is a mineral exploration and development company. Since the start of 2019, the Company has made strategic steps to expand its focus to include gold and silver exploration. The addition of the Neal Project in Idaho, in partnership with Eric Sprott, provides the Company with an advanced stage gold exploration project that is expected to continue to return positive exploration results and holds the potential to be advanced to production.
FOR FURTHER INFORMATION:
Pure Nickel Inc.
R. David Russell
Chairman and CEO
T. (416) 644-0066
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Pure Nickel are forward-looking statements that involve various risks. The following are important factors that could cause Pure Nickel’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Pure Nickel undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.